New Jersey § 2a:44-147

§ 2a:44-147.

The bond required by this article shall be in substantially the following form: “Know all men by these presents, that we, the undersigned as principal and as sureties,

are hereby held and firmly bound unto in the penal sum of dollars, for the payment

of which well and truly to be made, we hereby jointly and severally bind ourselves,

our heirs, executors, administrators, successors and assigns. “Signed this ․․․․․․․․ day of ․․․․․․․․, 19․․․. “The condition of the above obligation is such that whereas, the above named principal

did on the ․․․․․․․․ day of ․․․․․․․․, 19․․․, enter into a contract with , which said contract is made a part of this

the bond the same as though set forth herein; “Now, if the said ․․․․․․․․ shall well and faithfully do and perform the things agreed by ․․․․․․․․ to be done and performed according to the terms of said contract, and shall pay all

lawful claims of beneficiaries as defined by N.J.S. 2A:44-143 for labor performed or materials, provisions, provender or other supplies or teams,

fuels, oils, implements or machinery furnished, used or consumed in the carrying forward,

performing or completing of said contract, we agreeing and assenting that this undertaking

shall be for the benefit of any beneficiary as defined in N.J.S. 2A:44-143 having a just claim, as well as for the obligee herein; then this obligation shall

be void; otherwise the same shall remain in full force and effect; it being expressly

understood and agreed that the liability of the surety for any and all claims hereunder

shall in no event exceed the penal amount of this obligation as herein stated. “The said surety hereby stipulates and agrees that no modifications, omissions or

additions in or to the terms of the said contract or in or to the plans or specifications

therefor shall in anywise affect the obligation of said surety on its bond.” Recovery of any claimant under the bond shall be subject to the conditions and provisions

of this article to the same extent as if such conditions and provisions were fully

incorporated in the form set forth above.